Dividend History

In order to preserve the Company‘s equity and, mainly to afford an equitable treatment to all its shareholders, Pampa Energía implemented a mechanism considered to be an effective and efficient tool, which consisted in declaring the distribution of an early dividend to offset the amount of personal asset tax payable by Pampa to the Argentine Tax Authority (Administración Federal de Ingresos Públcos – AFIP), in its capacity as substitute taxpayer of such tax.

The table below shows the dividend history of Pampa Energía for the periods indicated: